Intro It is the end of 2019. You plan to complete a Ph.D. in 5years. Your favorite uncle has promised to help you with yourschool expenses by giving you the following amounts for Christmas:Year 2020 2021 2022 2023 2024 Cash flow 1,000 1,600 1,800 2,0002,200 Your uncle is fairly wealthy and very reliable. You currentlyhave $10,000 in a savings account paying an annual interest rate of6%. Attempt 1/5 for 10 pts. Part 1 Create an Excel spreadsheetshowing the years and cash flows as in the table above, then add arow that shows the number of years from now and another row thatshows the present value of each cash flow. What is the sum ofpresent values? Hint: do not hardcode the discount rate into yourformulas. Instead, keep it in a separate cell and refer back to it.You'll be asked to change in discount rate in parts 5 to 8. Attempt1/5 for 10 pts. Part 2 You also want to know how much each giftwill be worth in 2024 if you save it. Add another row to yourspreadsheet and calculate the value of each cash flow in 2024. Whatis the sum of all future values? Attempt 1/5 for 8 pts. Part 3 Whatis the present value of the sum of future values calculated in theprevious part? Attempt 1/5 for 10 pts. Part 4 Now assume that theinterest rate is 4%. What is the present value of all the gifts?Attempt 1/5 for 10 pts. Part 5 Still assume that the interest rateis 4%. What is the future value of all the gifts? Attempt 1/5 for10 pts. Part 6 Now assume that the interest rate is 10%. What isthe present value of all the gifts? Attempt 1/5 for 10 pts. Part 7Still assume that the interest rate is 10%. What is the futurevalue of all the gifts?